Richmond, VT is a great place to live because it has an affordable cost of living. The average rent for a two bedroom apartment is $1,440 which is much lower than the US average of $1,430. In addition, groceries in Richmond are a bit more expensive with an index of 112 compared to the US average of 100. Despite this increase in grocery costs, Richmond residents still get plenty of value from their income due to the overall lower cost of living.
For those who choose to live in Richmond there are many local companies that offer excellent services and products. Local favorites include Richmond Hardware Store, Johnson's Family Farm, and Richmond Printing Services. These businesses help provide locals with everything they need while also creating jobs and community growth for the area.
Richmond has an unemployment rate of 2.2%. The US average is 6.0%.
Richmond has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 30.7%, which is lower than the US average of 33.5%.
Tax Rates for Richmond
- The Sales Tax Rate for Richmond is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Richmond is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Richmond
- The average income of a Richmond resident is $33,371 a year. The US average is $28,555 a year.
- The Median household income of a Richmond resident is $105,625 a year. The US average is $69,021 a year.